Pensions: how much should you save?

Pensions can be depressing and confusing to think about. But you can increase your chances of achieving the retirement you want, and do away with some of the angst you feel, by simply working out how much you’re likely to need, and how you’ll get there. So how do you do it?

First, work out how much you’ll need to live on. Don’t worry about inflation for now. Simply take your cost of living today. Then adjust for the fact that you’ll hopefully have paid your mortgage, and that your children (again, hopefully) will be past their most expensive years [...]

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